Property prices around the future Cross Island Line MRT stations are expected to climb, with increased en bloc potential: According to a real estate analyst, prices in King Albert Park, Clementi, and West Coast will climb by up to 3%, with additional price hikes of up to 5%.

Analysts predict that property values near new Cross Island Line MRT stations will rise, with more en bloc potential.

SINGAPORE: According to property specialists, the construction of six additional MRT stations on the Cross Island Line (CRL) will undoubtedly boost property prices in the areas, and older condominiums may now have stronger en bloc potential.

On Tuesday (Sep 19), Transport Minister S Iswaran announced that the Cross Island Line Phase 2 will have six new stations: Turf City, King Albert Park, Maju, Clementi, West Coast, and Jurong Lake District.

The stations are scheduled to open in 2032, with construction set to begin next year. When completed, it is expected to benefit around 40,000 families in those areas.

According to real estate analysts CNA spoke with, the news is expected to boost the value of private properties near the new stations, while older condominiums may have higher en bloc potential.

Ms Christine Sun, OrangeTee & Tie’s senior vice president of research and analytics, remarked that the announcement will provide buyers with a more exact schedule for when the stations will be completed, allowing them to make more informed decisions.

When the MRT stations are completed, the prices of some condos near the MRT stations may rise as well. This is due to the fact that the value of a property rises when these homes are leased for future rental revenue, and projects near MRT stations are often popular with renters,” she added.

Mr Lee Sze Teck, senior director of research at Huttons Asia, predicts that when the stations are finished in 2032, prices in the King Albert Park, Clementi, and West Coast areas will climb by up to 3%, with additional price rises of up to 5%.

He stated that the six stations are either for future growth zones or for high-traffic regions that already exist.

Prior to the announcement, property analyst Ong Kah Seng anticipated that prices near the new stations will grow by 5% over the next ten years.

However, now that the MRT locations have been determined, he estimates a 15% increase in prices over the next ten years.

The six stations, which span 15 kilometers, would improve connectivity for individuals living in the west, particularly in areas such as Sunset Way and West Coast that aren’t currently served by an MRT line, according to the Land Transport Authority (LTA) earlier on Tuesday.

King Albert Park and Clementi will act as interchanges, with King Albert Park connecting to the Downtown Line and Clementi connecting to the East-West line.

According to Mr Lee, Turf City’s MRT station comes as no surprise because the location has already been identified as a future housing area, and land parcels in Turf City could be offered for sale as early as 2026 or 2027.

The 140-hectare Bukit Timah site was zoned for residential use as part of the 1998 Master Plan.

“There may be public housing,” Ms Sun remarked, “especially because their lease expires in 2023 and the location is zoned for residential use.”

Mr Ong expects that future Turf City housing developments will be analogous to those in Woodleigh, where there are large condominium complexes as well as HDB apartments.

Turf City is now home to 15 tenants who work in retail, food and beverage, sports and entertainment, childcare centers, and automobile showrooms.

Last year, Turf City renters were given a final 18-month lease extension until December 31, 2023.

According to Ms Sun, residents in the east and north-east will benefit the most from the new MRT stations’ opening.

“In Hougang, Ang Mo Kio, Tampines, and Pasir Ris, there have been numerous new condo and public housing buildings.” As a result, they must strengthen their connection to the rest of the island,” she explained.

The Cross Island Line, which stretches for more than 50 kilometers, is Singapore’s eighth MRT route and the country’s longest entirely subterranean line. It will be constructed in three stages.

The Cross Island Line, which stretches for more than 50 kilometers, is Singapore’s eighth MRT route and the country’s longest entirely subterranean line. It will be constructed in three stages.

There will be some new developments near the Cross Island Line in the near future. The Reserve Residences will be one of them. It is a planned integrated development at Beauty World MRT, one stop from King’s Albert Park station, which is designated as a cross-island stop.

Another development to look at is Lentor Hills Residences it have a size of 17,100 m2 with a Gross Plot Ratio of 3.0. This 99-year leasehold project is planned to result in the construction of 595 residential units.

Future inhabitants of Lentor Hills Residences will not have to travel far for their daily necessities, as they can visit the commercial podium at the Lentor Central integrated development, which will have multiple F&B options, a supermarket, and childcare facilities.

This is a quiet landed residential enclave that offers its occupants a tranquil living environment and seclusion. Thomson Plaza, Ang Mo Kio Hub, Djitsun Mall, Bishan North Shopping Mall, and Broadway Plaza are examples of shopping paradises.

Residents will benefit from seamless access to other parts of Singapore with an integration to Lentor MRT Station on the Thomson-East Coast Line (TEL). Residents may only need 20 minutes to go to Orchard Road with direct train access once the Thomson-East Coast Line is fully operating.

Tenet EC is another. Tenet is an upcoming EC a few minutes’ walk from Tampines North MRT, which is one of the cross-island line stops.

Don’t pass up this chance. To watch Tenet Ec Showflat, Lentor Hills Residences showflat and The Reserve Residences Showflat, please register or call 61003487!